Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Strategy Briefing

Travel Transportation in Asia Pacific

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About This Report

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Asia Pacific is the largest travel transportation market in the world in terms of value. It is dominated by China, followed by other markets such as Japan, India and South Korea. Growth is mainly being driven by the rail and scheduled airlines categories in China. At the same time, low-cost carriers continue to expand in several Southeast Asian countries such as Vietnam and the Philippines but have yet to have a major impact on the overall retail value of travel transportation in Asia Pacific.

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Key Findings

Scheduled airlines retain a dominant position in Asia Pacific. Most airlines are striving to expand their routes, especially in long-haul markets. However, scheduled airlines have long been facing the challenge of the rapid growth of low-cost carriers on short-haul routes. As budget airlines continue to expand aggressively by opening more routes at more affordable prices, competition in the airline industry will become increasingly fierce.

Substantial growth potential in China and India

As passenger numbers keep rising, China and India continue to see significant investment in their travel transportation infrastructure. China has been investing heavily in railway infrastructure and technology development in order to enhance support for the 2022 Beijing Winter Olympic Games, while the Indian government announced plans to increase its airport capacity five-fold. With increasing demand from domestic travellers, the markets in China and India are expected to boom over the forecast period.

Airline industry is shifting sales online

Airline value sales are shifting from offline to online. In 2015, airline online value sales started to exceed offline sales in the Asia Pacific region, with most countries witnessing an increase in airline online revenue. This has been supported by a trend for airlines to incentivise customers to book directly through their own websites or apps.

Transportation continues booming in Asia Pacific

The growing middle class, the search for more life experiences and increased travel spending continue to drive the revenue of travel transportation in Asia Pacific. As governments continue to increase investment in infrastructure, overall transport capacity is expected to be increased significantly.